As I say in the first video in this short series, "come for the clickbait, stay for the education". No, this post is not money-making advice: it's telling you how money is actually made, by both banks and the government, using my Minsky software.Building a New Economics is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
What I would like to know is why didn't you come up with the policy of a 50% Discount/Rebate policy at the point of retail sale considering that you bemoan the fact that economists can get their PhD in economics without even taking a basic course in accounting, and been aware of the fact that the banks create money with equal accounting debits and credits.
Maybe its because you also are still too acculturated to the present paradigm for the creation and distribution of new money, namely Debt as in the Burden to Repay Only. Or maybe its because you're a little too caught up in abstraction to look directly at the economic process to realize that retail sale being perhaps the single universally participated in/experienced point of that process that a 50% reduction in price there would
1) slay inflation by implementing beneficial price and asset deflation,
2) double both everyone's purchasing power and greatly increase demand for every enterprise's goods and services and
3) break up the private banks' monopoly paradigm that has been the reality no matter whether it was the Palace or the Banks that wielded it....since the beginning of human civilization...
The only thing more stupid and problematic than dominating systemic economic power is dominating paradigmatic power, and private banking has been granted the first and has sereptitiously been allowed to unconsciously acculturate the latter into the minds of the naive and even the erudite for the entire history of human civilization.
According to a blogger named Rodger Malcolm Mitchell all collected taxes go to the IRS where they are rubbished because there is no record of them thereafter. That would mean the treasury/government separately creates all of the money to fund the government including of course any "deficit". I don't know if this is a completely accurate and factual accounting, but as monetarily sovereign governments indeed CAN create unlimited money it could be true and would invalidate the supposed necessity to pay such high tax rates to fund the government. And if we implemented a 50% Discount/Rebate policy at retail sale thus ending inflation forever, tax rates could be brought down to rather low levels so long as stiff prison sentences were enforced on those who failed to comply with even such minimal rates.
What I would like to know is why didn't you come up with the policy of a 50% Discount/Rebate policy at the point of retail sale considering that you bemoan the fact that economists can get their PhD in economics without even taking a basic course in accounting, and been aware of the fact that the banks create money with equal accounting debits and credits.
Maybe its because you also are still too acculturated to the present paradigm for the creation and distribution of new money, namely Debt as in the Burden to Repay Only. Or maybe its because you're a little too caught up in abstraction to look directly at the economic process to realize that retail sale being perhaps the single universally participated in/experienced point of that process that a 50% reduction in price there would
1) slay inflation by implementing beneficial price and asset deflation,
2) double both everyone's purchasing power and greatly increase demand for every enterprise's goods and services and
3) break up the private banks' monopoly paradigm that has been the reality no matter whether it was the Palace or the Banks that wielded it....since the beginning of human civilization...
4) all in one fell swoop.
The only thing more stupid and problematic than dominating systemic economic power is dominating paradigmatic power, and private banking has been granted the first and has sereptitiously been allowed to unconsciously acculturate the latter into the minds of the naive and even the erudite for the entire history of human civilization.
According to a blogger named Rodger Malcolm Mitchell all collected taxes go to the IRS where they are rubbished because there is no record of them thereafter. That would mean the treasury/government separately creates all of the money to fund the government including of course any "deficit". I don't know if this is a completely accurate and factual accounting, but as monetarily sovereign governments indeed CAN create unlimited money it could be true and would invalidate the supposed necessity to pay such high tax rates to fund the government. And if we implemented a 50% Discount/Rebate policy at retail sale thus ending inflation forever, tax rates could be brought down to rather low levels so long as stiff prison sentences were enforced on those who failed to comply with even such minimal rates.